Squire Plaza, a multi-tenant property located in Lakewood, is on the market for $2,785,000. The retail and office complex spans 20,787 square feet and consists of three units, achieving a cap rate of 7.73% and a net operating income (NOI) of $215,216.
The property, built in 1958 and renovated in 2017, is situated along W Colfax Ave and designed with small-bay suites catering to various service-oriented businesses. These include beauty, wellness, automotive, insurance, and professional services, all contributing to consistent traffic and a loyal customer base.
Its location on a high-visibility corridor, with traffic volumes exceeding 26,000 vehicles daily, offers strong exposure and accessibility. The two-story layout enhances income stability by reducing reliance on any single tenant.
This investment presents a value-add opportunity through potential lease-up, rent increases, and optimization of the tenant mix. The site covers 0.84 acres, featuring 90 parking spaces, making it suitable for businesses that require high customer turnover.
Zoned M-G-S, the property allows for a variety of commercial, retail, and light service uses, offering flexibility for future adaptations. Additionally, the area is experiencing ongoing demand for affordable small-suite commercial spaces, with limited new supply available.
The plaza offers convenient access to public transit options, including nearby stations, improving accessibility for both employees and customers. With proven demand for similar small-bay service establishments, Squire Plaza is positioned as a promising investment opportunity.
The property is listed by Engel & Völkers Denver.
Source: Property Listing
